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The authors published many articles in peer-reviewed professional journals. Several articles received awards, including Dietz Award from the Journal of Performance Measurement in year 2014. This time, they study the problem of multiple roots of IRR equation and introduce a novel "largest root" rule for selecting the correct solution, which effectively resolves the puzzle of IRR equation with regard to its financial applications. Other important issues of investment performance measurement are considered too, such as the concept of investment context. Within this conceptual framework, the authors study and compare different methods for calculating rates of return, such as IRR, Modified Dietz, TWRR, geometric linking, NPV, MIRR, etc., introduce enhancements for existing methods. A new generalized IRR equation (GIRR) was proposed. This equation, for the first time, describes investment context in a universal mathematical form, which is a breakthrough result. Algorithms for linking rates o
